I can not tell you how to do that with photoshop or other programs (I do not use them), but I think I can explain your your "feeling":
If you compare the arrow with text history you see the sharp lines and corners? The other part of the logo is build with round corners. So try a font and an arrow that uses rounded corners too.
Comparing both icons the second is better, but the font for the text "history" is too wide. As already mentioned in a comment the curved arrow does not match the other part of the icon. So I suggest to use an non-curved arrow or---if you insist in this kind of arrow--- set the text "history" on a path following the form of the arrow.
At last can you please add both icons to your question in the size the logo should used later. Background is to proof, if the text history is readable or not. It would also help you can add what you mean with history. History like browser history? Or ?